Is your business barely hanging on, or are you ready to reignite your growth and success? Survival mode can feel overwhelming, but revival mode is where transformation happens. Do you know how to make the shift?
In episode #546 of the Black Entrepreneur Blueprint podcast, Jay Jones breaks down the key signs your business is stuck in survival mode and reveals actionable steps to move into revival mode. If you’re ready to rebuild, refocus, and thrive, this episode will show you how to take control and start winning again.
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BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 546
What Is Survival Mode And What Are The Signs?
Survival mode is exactly what it sounds like, you are only focused on surviving and not necessarily winning. Like in boxing matches, the less skilled fighter just tries to hold on and go the distance without getting knocked out. They are not trying to win, but just to survive.
Here are some signs your business is in survival mode:
• Primarily focused on just covering basic expenses and not trying to grow
• Experiencing declining profit margins
• Consistently cutting costs
• Relying heavily on short-term solutions to meet financial obligations
• Showing a reluctance to invest in new initiatives or market expansion
Basically, you are just trying to stay afloat.
What Is Revival Mode And What Are Some Actionable Steps To Get There?
Revival mode is when there is a noticeable change in action and strategy that is designed to not only stabilize the financial status of your company but also looking greatly improve it and grow it.
• A new infusion of capital
• A noticeable increase in sales and customer engagement
• Positive cash flow
• Renewed marketing efforts
• improved customer service
• A focus on innovation and new product development
• A refreshed brand image
• A revitalized team spirit with increased employee morale
Actionable Steps To Revive Your Business
1 Look for untapped revenue potential like an affiliate product you can offer to your customer base (offering a weight loss supplement if you are a fitness coach – you can use affiliate marketplaces like Clickbank, Digistore24, or Commission Junction)
2 Create special offers to your customer database to drive revenue immediately like a flash sale
3 Look to partner with synergistic companies to cross-market your products or services (like a mortgage company and a home security company)
4 Create new products with a high perceived value and bigger profit margins
5 Pre-sell a product and generate revenue before you have to fulfill it (it could be an online course, book, or a service)
